1. Field of the Invention
The invention is useful in the field of data processing, and more particularly to computation of certain recursive values, such as tax deductions.
2. Discussion of Background Information
In the tax payment processes used by governments and other tax-imposing agencies for taxes such as income taxes, taxpayers are typically allowed to deduct certain expenses as the taxable amount is being calculated. One deduction commonly allowed is payment of other taxes.
Allowing a deduction creates a tax credit for the taxpayer, namely, the difference between the amount of tax that would have been paid if that deduction had not been allowed and the amount of tax paid if that deduction is allowed.